How to track your investments without spending a cent

Once you have an investment portfolio, you need to keep an eye on what it’s up to. You can’t just forget about it. What if one of your shares plummets in value? As part of your investment strategy, you need to know when to cut your losses and take profits too. But regardless of your investment strategy, you need to keep an eye on what your portfolio is doing. Here’s one way to do it…

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Track your investments online

You can pay a lot of money to get a share program that will help you to track your investments. But if you’d rather not pay for this expense, then there are ways to monitor your portfolio for free, Steve Sjuggerud in Daily Wealth explains.

To check what’s going on with your shares in the news, you can view one of the numerous financial websites, such as Fin24 and BDLive.

To look at the current share prices of your shares, you can check them on sites like Bloomberg. A simple search on Google will bring up a host of sites giving you this information for free.

Use Excel to create your portfolio

To start off, it’s a good idea to have a list of all your investments in one place, such as an Excel spreadsheet. This means you know what you have at a glance.

You can make a spreadsheet up that mirrors your portfolio. You can have columns for the purchase price, number of shares, current price, stop loss, etc. You can easily update it in this form.

When it comes to monitoring stop losses and take profit levels, these are a bit more laborious if you’re not paying for a service. You’ll just have to check these manually.

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How to track your investments if you’ve shelled out

Of course, you may have purchased a share program that downloads data every day. If you’ve forked out for this, you can create your portfolio on there. You can usually set take profit and stop loss levels. And your program will usually alert you if stocks hit those levels.

So there you have it, how to track your investments without spending a cent.